Eminent Persons Group to advise Trustees on their sustainability initiative

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07 Jun, 2021

The IFRS Foundation Trustees have announced the establishment of an Eminent Persons Group to provide strategic advice and counsel to the Trustees regarding the proposed formation of the International Sustainability Standards Board (ISSB). The group will also advise on the connectivity with jurisdictional initiatives.

The Eminent Persons Group is chaired by Jean-Claude Trichet, former President of the European Central Bank. Additional members are Sheila Bair, former Chair of the US Federal Deposit Insurance Corporation, Nandan Nilekani, Chair and co-founder of Infosys, Guillermo Ortiz, former Governor of Banco de Mexico and former Chair of the Bank of International Settlements, and Min Zhu, former Deputy Managing Director of the International Monetary Fund. The group has held its first meeting and will have regular engagement with the Trustees.

The Trustees now have four groups they work with in the context of their sustainability initiative:

  • The Trustees’ Steering Committee provides strategic direction and project oversight and makes recommendations on key decisions for endorsement by all Trustees.
  • The Eminent Persons Group provides strategic advice and counsel to the Trustees.
  • The Technical Readiness Working Group is working on providing the ISSB with a ‘running start’.
  • The Multilateral Working Group does preparatory work for a building-blocks approach and facilitates interaction with other international/jurisdictional initiatives.

The press release on the IASB website also notes that an update on the work of the Technical Readiness Working Group is due to be published later this week.

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